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Envivio Reports Second Quarter Fiscal 2014 Financial Results

Stocks in this article: ENVI

SOUTH SAN FRANCISCO, Calif., Sept. 4, 2013 (GLOBE NEWSWIRE) -- Envivio (Nasdaq:ENVI), a leading provider of software-based video processing and delivery solutions, today announced financial results for the second quarter of fiscal 2014 ended July 31, 2013.

Financial Highlights

  • Revenue for the second quarter of fiscal 2014 was $11.5 million, compared to $7.5 million in the first quarter of fiscal 2014 and $10.8 million in the second quarter of fiscal 2013.
  • GAAP net loss for the quarter was $2.5 million, or $0.09 per share, compared to GAAP net loss of $4.7 million, or $0.18 per share, in the first quarter of fiscal 2014 and GAAP net loss of $4.3 million, or $0.16 per share, in the second quarter of fiscal 2013.
  • Non-GAAP net loss for the quarter was $1.9 million, or $0.07 per share, compared to non-GAAP net loss of $4.2 million, or $0.16 per share, in the first quarter of fiscal 2014 and non-GAAP net loss of $3.5 million, or $0.13 per share, in the second quarter of fiscal 2013. A reconciliation of the difference between these non-GAAP financial measures with the most directly comparable GAAP measures, as well as a description of the items excluded from the non-GAAP measures, is included in the financial statements portion of this press release.

"In the second quarter, we began to see the fruits of our efforts to improve sales execution, particularly in North America," said Julien Signès, President and CEO, Envivio. "We are encouraged by our results, which were principally driven by large orders from two tier 1 North American cable customers, one of which was a new customer. While there remains more to do in improving our sales execution, we are excited by the encouraging growth this quarter in our software business, revenue growth of 55% and gross margin expansion—evidence of the competitiveness of our products and the strengthening market demand for multi-screen applications as well as technologies for personalized TV."

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